Page 5 - Lifestyles in Palm Beach Gardens - March '20

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Lifestyles in Palm Beach Gardens, Page 5

Property Appraiser’s Office

Dear Taxpayers: Property Tax Return for 2020 and my office’s annual college personal property exceeds $25,000 on Jan. 1. Tangible
Since 1995, the State of scholarship application process is now open. Enjoy reading personal property used in a business includes furniture,
Florida has implemented and wishing you a happy spring. fixtures, machinery, tools, equipment, appliances, signs,
a 3 percent Save Our Respectfully, leasehold improvements, supplies, leased equipment and
Ho m e s C a p (SOH) Dorothy Jacks, CFA, AAS, any other assets used by the business.
assessment increase limit Palm Beach County Property Appraiser The filing deadline is April 1. Failure to file will result
on all residential properties in the loss of the exemption and the assessment of penalties
that receive a homestead Business Tangible Personal per Florida Statutes, Sections 193.072 and 193.073.
exemption. The 3 percent Save time, paper, and postage by filing online using
SOH Cap limits any increase Property the E-File link on our website www.pbcgov.org/papa. If
to the assessed value of a you need a paper form (DR-405) you can download it
homestead exempt property Florida allows an exemption up to $25,000 in value for from our website using the Forms link. If you have any
to a maximum of 3 percent each year or the change in the tangible personal property assets used by a business. You questions about reporting personal property, tangible
Consumer Price Index, whichever is lower. The Florida must file an initial Tangible Personal Property Tax Return e-filing or the $25,000 tangible exemption, please call
Department of Revenue (DOR) reports this statutory (DR-405) to receive the exemption. Thereafter you need our office at (561) 355-2896 or email us at patangible@
determination each January. For 2020, the SOH maximum not file an annual return unless the value of your tangible pbcgov.org.
increase will be 2.3 percent.
The homestead exemption in the state of Florida can
save hundreds of dollars in property taxes for permanent Property Appraiser’s Office Since 1994, the PAO has awarded nearly $140,000 in
Florida residents. The first $25,000 in property value is college scholarships. The program is particularly special to
exempt from all property taxes, including school district Annual Scholarship Awards the PAO because the money raised for the scholarships is
taxes. The additional $25,000 exemption is available for 100 percent funded by the staff who participate in “Friday
non-school taxes and applies only to the assessed value Program Casual Dress Day,” a volunteer donation program.
between $50,000 and $75,000. If you already have a For more information, call (561) 355-3230 or go to our
homestead exemption on your property, you do NOT The Palm Beach County Property Appraiser’s Office website, www.pbcgov.org/PAPA and click on the “Learn
need to reapply. (PAO) is accepting applications for the 27th Annual More” tab and click on “About Our Office.” You will find
March 2 is the deadline to file for the homestead Scholarship Awards Program. This year, my office is the application online.
exemption and other property tax exemptions, which offering six college scholarship awards,
include those for seniors, widows and widowers, persons $1,500 each to graduating (Palm Beach
with disabilities, active-duty military, veterans, “granny County) high school seniors, who will attend
flats” and more. In addition, if you’re moving within accredited higher education institutions. The
the state of Florida and you’re filing for a homestead deadline to submit is March 31.
exemption, you can e-file for portability. (Portability is To be eligible for a scholarship award,
transferring all or a significant portion of your cap savings, a student must be a resident of Palm Beach
up to $500,000, from a home with a homestead exemption County, have a minimum of 3.0 GPA, and
to a new home within the state of Florida that qualifies plan to attend an accredited higher-education
for a homestead exemption.) For more information, go to institution (college or junior college).
our website: www.pbcgov.org/PAPA or call Exemption In addition to receiving a scholarship,
Services at (561) 355-2866. each recipient will be offered an opportunity
In this month’s article, a reminder to all business owners for a paid summer internship in the property
in Palm Beach County about filing for a Tangible Personal appraiser’s office. Property Appraiser Dorothy Jacks with 2019 scholarship recipients

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